I wouldn't call it a bug. It looks like modulo arithmetic to me.
Let's not make a virtue of necessity. The type "int" was likely designed
with the intent to provide a type that could be used for actual integers
in a variety of circumstances, while giving good performance. The modulo
semantics is rarely useful (especially the 30-bit signed variety) but
is the price paid for reasonable performance with a simple implementation.
Actually, the modulo behavior comes out of how the CPU designers made
the CPUs work decades ago. It was very easy for them to just drop all
those extra bits (or not even compute them). And, of course, now that
behavior is cast in stone...